The Benefits of Working With a Credit Union

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Let me welcome our wonderful guests from bmi federal credit union. Sarah borland is the vice president of business and community development for bmi. And also with us. As nancy sullivan graph. Who's their financial education manager. So thank you both for joining us. Thank you happy to be here. Thank you well sarah. Let's i discussed the differences between credit unions and other financial institutions. It's always pros and cons. We're here basically with this episode to make sure you shop nowhere you're banking And and we gotta make decisions on where to park. Your money provide the listeners with some advantages of working with the credit. Union absolutely brat. Well i think you know. It's important that credit unions are viewed as a sound financial institution. Just like banks are Were just different in some ways and you know one way. Mainly we're different is that we're not for profit financial cooperatives We're still federally insured. Were insured by um entity the ncua We have member owners so we don't have with their not called clients. They're not called customers. They're called they're called members because they own us. They own the financial cooperative We generally have lower rates on loans. We have higher yield on savings products. Because we don't have shareholders to pay We have you know. Typically lower fees We like to focus a lot on providing personal service at credit union. So making sure that we are giving since they are members They are getting the personal attention they deserve and that they are getting on that one on one care that's unique to their situation But i think the most important thing that is important no matter your financial sitution is just to make sure that you are Have that financial stability that you have that guidance. And you feel like you have that support no matter who you're with

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